1. The University receives with gratitude the sum of £2,604,200 from Said Gutseriev to be held as expendable endowment on the trusts declared in this regulation. Further money or property may be paid or transferred to the University as either expendable or permanent endowment to be held on the same trusts. The assets so held will be known as the Chingiz Gutseriev Archaeology and Anthropology Fund (“the Fund”).
2. The University shall retain as permanent endowment those of the assets in the Fund (if any) which are contributed on the express understanding that they are to be treated as permanent endowment (“the Permanent Endowment”).
3. The University shall (a) apply the income of the Permanent Endowment (if any); and (b) apply the income and, in its discretion, the capital of the remainder of the Fund, towards the salary, expenses and associated overheads of: (i) the holder of the current Chingiz Gutseriev Research Fellowship in Archaeology and Anthropology; and subsequently (ii) the holder of the Chingiz Gutseriev Associate Professorship in Archaeology and Anthropology (each, “the Post”). The Post holder shall undertake research, lecture and teach in and at the interface of Archaeology and Anthropology. Part of the Fund shall be hypothecated to support the costs of St Peter’s College, Oxford, in establishing and maintaining a College fellowship for the holder of the Post (“the Fellowship”).
4. If the salary, expenses and overheads of the Post and Fellowship are wholly or partly covered from other sources or there are further funds available, there shall be discretion to apply the income and/or capital of the Fund to support the Post holder’s research activities (including, but not limited to, fieldwork, research travel, conference attendance and organisation, and outreach).
5. The administration of the Fund, and the application of its income, shall be the responsibility of the Social Sciences Divisional Board.
6. Provided the Post and the Fellowship can be maintained from year to year, the University may in its absolute discretion in the period ending 21 years from the date of this regulation, instead of applying the income of the Fund in any year, accumulate all or any part of such income by investing it, and holding it as part of the capital of the Fund. The University may apply the whole or any part of such accumulated income in any subsequent year as if it were income of the Fund arising in the then current year.
7. The University shall have power to pay out of the capital or the income of the Fund all costs of and incidental to the creation of the Fund and the management and administration of the Fund and the Post, provided always that such costs shall not exceed those charged by the University from time to time in relation to other funds or posts similar in nature to the Fund or the Post.
8. The University may exercise any of its corporate powers in the management and administration of the Fund in so far as those powers are not inconsistent with these regulations.
9. Regulations 1–11 shall be deemed to be Trust Regulations under the provisions of Part D of Statute XVI.
10. Subject to Regulation 11, Council may amend, repeal or add to these regulations in accordance with Part D of Statute XVI, but no amendment is valid if it would cause the Fund to:
(1) cease to be exclusively charitable according to the law of England and Wales; or
(2) be outside the objects of the University.
11. Any amendment to Regulation 3 is an amendment to the main objects of the Fund for the purposes of Part D of Statute XVI and must be approved both by Congregation of the University and subsequently by Her Majesty in Council.